Nature of the Disclosure
Adani Power Limited has intimated the stock exchanges about the execution of a Share Purchase Agreement (SPA) for the sale of its wholly-owned subsidiary, Chandenvalle Infra Park Limited (CIPL), to AdaniConneX Private Limited (ACPL).
Transaction Details
- A Share Purchase Agreement was executed on August 27, 2026, between Adani Power Limited, Chandenvalle Infra Park Limited, and AdaniConneX Private Limited.
- The transaction involves the sale of Adani Power's entire stake in CIPL to ACPL.
- Post-completion of the transaction, CIPL will cease to be a subsidiary of Adani Power Limited.
- The transaction was closed on the same day the agreement was signed, August 27, 2026.
Financial Consideration
- The sale consideration amounts to ₹535.69 crore, subject to adjustments on the closing date as per the terms of the SPA.
Subsidiary Profile (CIPL)
- Chandenvalle Infra Park Limited has not yet commenced commercial activities.
- CIPL holds sizeable land parcels in and around Chandenvalley Industrial Park in Telangana.
- The land parcels have certain essential land approvals.
Buyer Information
- The buyer is AdaniConneX Private Limited (ACX).
- ACX is a 50:50 joint venture between Adani Enterprises Limited (AEL) and EdgeConneX.
- The promoters of Adani Enterprises Limited and Adani Power Limited are the same.
Related Party Transaction Status
- The transaction qualifies as a related party transaction.
- The transaction is being done on an arm's length basis.